Chinkou Span line of Ichimoku indicator is crossing historical price on open bar for H4 timeframe. The price is in still on bearish located below Ichimoku cloud/kumo and below Sinkou Span A line which is virtual border berween bearish and bullish on D1/H4/H1 charts.
D1 timeframe : the price is ranging between 1.6516 resistance and 1.6314 support, and Chinkou Span line is crossed the the price on open bar for possible breakout on bullish market condition.
The price is on bullish for W1 and H1 timeframes with possible uptrend started after W1 flat and H1 ranging.
If Chinkou Span will cross the price on close bar, and if the price will break 1.6458 resistance from below to above so we may see the trend reversal from bearish to bullish with good possibility to open buy trade on H4 timeframe. If If Chinkou Span will not cross the price on close bar, and if the price will not break 1.6458 resistance from below to above so we may see the ranging market condition for all timeframes starting with H1 for example.
UPCOMING EVENTS (high/medium impacted news events which may be affected on GBPUSD price movement for this coming week)
2013-01-20 02:00 GMT (or 03:00 MQ MT5 time) | [CNY - GDP]
2013-01-21 11:00 GMT (or 12:00 MQ MT5 time) | [GBP - CBI Industrial Order Expectations]
2013-01-22 09:30 GMT (or 10:30 MQ MT5 time) | [GBP - Claimant Count Change]
2013-01-22 09:30 GMT (or 10:30 MQ MT5 time) | [GBP - Unemployment Rate]
2013-01-22 09:30 GMT (or 10:30 MQ MT5 time) | [GBP - Flash Manufacturing PMI]
2013-01-23 11:00 GMT (or 12:00 MQ MT5 time) | [GBP - CBI Realized Sales]
2013-01-23 15:00 GMT (or 16:00 MQ MT5 time) | [USD - Existing Home Sales]
SUMMARY : ranging
TREND : bullish
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If you want something as below:
Sell FOREX trading signal. Manage multiple accounts. Follow somebody's trading."TradeCopier_source" and "TradeCopier_follow" can help you!
Copying from one source (master) account to multiple follower (slave) accounts. Allow investor (read only) password for the source (master) account. There are no complicated settings and input parameters, everything is easy. Works with different Brokers. Works with different symbols (EURUSD_FX, eurusd_m
Forum on trading, automated trading systems and testing trading strategies
newdigital, 2014.01.18 10:40
GBP/USD Technical Analysis (adapted from this article)
newdigital, 2014.01.18 15:19
Fundamental Forecast for the British Pound: Bullish
The British Pound appears to be coiling up for
another run at the 1.6600 handle as the positive developments coming out
of the U.K. economy raises the Bank of England’s (BoE) scope to
normalize monetary policy ahead of schedule.
There’s speculation that the BoE will lower the
unemployment threshold to 6.5% from 7.0% in its quarterly inflation
report scheduled for February 12, and this theme presents the largest
risk to the bullish British Pound forecast as market participants weigh
the outlook for monetary policy. Nevertheless, Credit Suisse overnight
index swaps are starting to show expectations for higher interests over
the next 12-months as the BoE moves away from its easing cycle, and the
shift policy outlook should continue to prop up the sterling over the
near to medium-term as the central bank starts to unwind its
newdigital, 2014.01.19 17:12
GBPUSD Fundamentals January 20 - 24 - based on investing.com article
The pound rose against the dollar on Friday after data showing that U.K.
retail sales rose sharply in December bolstered the outlook on the
economic recovery, fuelling expectations that the Bank of England may
rise interest rates ahead of other central banks.
GBP/USD rose to highs of 1.6457, the strongest since January 14 and was last up 0.42% to 1.6420. For the week, the pair rose 0.20%.
Cable is likely to find support at 1.6308, Friday’s low and resistance at 1.6500.
Monday, January 20
Markets in the U.S. are to remain closed for the Martin Luther King Day holiday.
Tuesday, January 21
The U.K. is to publish a private sector report on industrial order expectations.
Wednesday, January 22
U.K. is to release official data on the change in the number of people
unemployed and the unemployment rate, as well as data on average
earnings and public sector borrowing. Meanwhile, the Bank of England is
to publish the minutes of its most recent policy setting meeting.
Thursday, January 23
newdigital, 2014.01.20 09:38
GBP/USD in consolidation mode after Friday’s huge gains
GBP/USD is trading around 200SMA at 1.6417, rebounding from Friday’s high at 1.6457, but not ready to go below 1.64.The Pound may get some more fuel, but laterThe
pair got huge support from the recently released UK retail sales adding
almost 150 pips during the hour of the release. Nevertheless, we
wouldn’t be too optimistic about the record rise of the numbers.
According to ONS, there might be the case of seasonal effect, thus we
may see significant revisions next month. As for this week, we will get
some quite important reports for digestion, and the labor data scheduled
for Wednesday is one of them. We expect quite positive developments in
this sector, thus, the pair has good potential to go higher. The
released today Rightmove house price index met the expectations, and
there is no more UK data scheduled for today, thus we expect tight
ranges during the whole Monday close to 1.6420 area.What are today’s key GBP/USD levels?Today's
central pivot point can be found at 1.6393, with support below at
1.6359 (S1), 1.6318 (S2) and 1.6277 (S3), with resistance above at
1.6511 (R1), 1.6552 (R2), and 1.6594 (R3). Hourly Moving Averages are
largely bullish, with the 200SMA at 1.6417 and the daily 20EMA flat at
1.6410. Hourly RSI is neutral at 55.
newdigital, 2014.01.20 10:26
if actual > forecast = good for currency (for CNY in our case)
China's Economic Growth Slows to 7.7%
The nation's economy grew 7.7% in the fourth quarter from a year ago,
slower than the 7.8% it posted in the third quarter, according to data
released Monday by China's National Bureau of Statistics. For the year
it also posted 7.7% growth, matching the revised pace it recorded in
"There was steady economic progress [last year] and this was no small
achievement," the bureau said in a statement. But it added that the
Chinese economy still faces imbalances, while "fundamentals of the
economic recovery are still not stable."
The fourth-quarter increase was higher than a median 7.6% gain forecast by 13 economists in a Wall Street Journal survey.
"We don't see any areas that would support an economic rebound in the first quarter," said Ma Xiaoping, economist with HSBC Holdings PLC.
MetaTrader Trading Platform Screenshots
GBPUSD, M5, 2014.01.20
MetaQuotes Software Corp., MetaTrader 5, Demo
GBPUSD : 18 pips price movement by CNY - GDP news event
newdigital, 2014.01.20 14:19
E&Y Item Club Urges BoE To Tie Rate Hike To Real Wage Growth (based on rttnews article)
The Ernst and Young Item Club on Monday urged the Bank of England to
tie interest rate hike to real wage growth as unemployment target is
set to be achieved this year.
newdigital, 2014.01.21 07:09
GBP/USD survived after Hilsenrath’s comments
was injured in the morning by the WSJ Hilsenrath predictions of further
tapering during the January FOMC meeting, though the pair lost only 16
pips from 1.6426 at open to 1.6410 low.
Market has some good expectations on UK dataHilsenrath’s
story was not able to trigger big moves, as the comments are largely in
line with expectations. The scheduled for today UK CBI Industrial Order
Expectations has limited potential to trigger any currency moves,
though positive development will only fuel the interest to the Pound.
The rumored revision of UK GDP growth forecasts to 2.4% (from 1.9%) by
the IMF may give additional support to the pair, if confirmed during the
American session. We also expect the early positioning of the pair
before the Wednesday’s key labor data release which is potentially
GBP-bullish with the initial target at 1.6463 resistance level.What are today’s key GBP/USD levels?Today's
central pivot point can be found at 1.6429, with support below at
1.6404 (S1), 1.6370 (S2) and 1.6345 (S3), with resistance above at
1.6463 (R1), 1.6488 (R2), and 1.6522 (R3). Hourly Moving Averages are
largely bullish, with the 200SMA at 1.6419 and the daily 20EMA flat at
1.6413. Hourly RSI is neutral at 52.
newdigital, 2014.01.21 13:44
if actual > forecast = good for currency (for GBP in our case)
U.K. Manufacturing Order Growth Strongest Since 2011
British manufacturing order growth during three months to January
hit the highest since April 2011, survey data from the Confederation of
British Industry showed Tuesday.
Moreover, manufacturers are
optimistic about continued expansion in the next quarter and they are
increasingly confident in the recovery.
The balance for new
domestic orders came in at 11 percent, the strongest since 2011, but the
new export orders balance fell to zero, the Industrial Trends Survey
showed. About 38 percent of firms reported a rise in output volumes and
20 percent a decline, giving a balance of +18 percent.
around 38 percent of manufacturers expect total new orders to increase
and 16 percent expect them to fall, resulting in a balance of +22
percent, the highest since April 2012.
intentions improved sharply and firms citing uncertainty about demand as
a constraint on investment fell to the lowest since October 2010.
However, in January, the order book balance fell to -2 from 12 in December. The expected level for January was 10 percent.
GBPUSD, M5, 2014.01.21
GBPUSD M5 : 42 pips price movement by GBP - CBI Industrial Order Expectations news event
newdigital, 2014.01.21 19:57
Pound gains on IMF forecast, U.K. data
The pound rose against the dollar earlier Tuedsday after the
International Monetary Fund said it was hiking the U.K.'s 2014 growth
forecast by more percentage points than any other major European
country, while mixed-but-solid British data also bolstered the pair.
In U.S. trading on Tuesday, GBP/USD was trading at 1.6467, up 0.24%, up from a session low of 1.6400 and off a high of 1.6486.Cable was likely to find support at 1.6396, Monday's low, and resistance at 1.6508, the high from Jan. 13.The
pound enjoyed support after the IMF hiked Britain’s 2014 growth
forecast to 2.4% from 1.9% in October, more than any other major
European economy.Also in the U.K., the Confederation of British
Industry said its index of industrial order expectations fell to -2 this
month from 12 in December, well below expectations of a reading of 10.
newdigital, 2014.01.22 07:14
Trading the News: U.K. Jobless Claims Change (based on dailyfx.com article)
U.K. jobless claims are projected to fall another 32.0K in December and
the ongoing improvement in the labor market may trigger fresh highs in
the GBPUSD as it raises the outlook for growth and inflation.
Time of release: 01/22/20149:30 GMT, 4:30 EST
Primary Pair Impact: GBPUSD
Forecast: -30.0K to -35.0K
Why Is This Event Important:
Indeed, the stronger recovery in the U.K. raises the scope of seeing the
Bank of England’s (BoE) 7% unemployment threshold being breached later
this year, and the central bank may implement a dovish twist for its
forward-guidance on monetary policy as the real economy remains far from